Procyon Advisors LLC Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Procyon Advisors LLC decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 54,946 shares of the company’s stock after selling 1,263 shares during the period. Procyon Advisors LLC’s holdings in Johnson & Johnson were worth $7,946,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Johnson & Johnson by 15.3% in the second quarter. Pacer Advisors Inc. now owns 240,605 shares of the company’s stock worth $35,167,000 after purchasing an additional 31,908 shares during the last quarter. Sei Investments Co. raised its holdings in Johnson & Johnson by 10.7% in the 2nd quarter. Sei Investments Co. now owns 1,126,658 shares of the company’s stock worth $164,672,000 after purchasing an additional 109,205 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Johnson & Johnson by 31.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,634,863 shares of the company’s stock worth $238,951,000 after purchasing an additional 394,518 shares during the period. Kiely Wealth Advisory Group Inc. increased its position in shares of Johnson & Johnson by 5.7% during the second quarter. Kiely Wealth Advisory Group Inc. now owns 1,847 shares of the company’s stock valued at $296,000 after buying an additional 99 shares during the period. Finally, Summit Trail Advisors LLC raised its stake in Johnson & Johnson by 30.7% in the second quarter. Summit Trail Advisors LLC now owns 45,920 shares of the company’s stock worth $6,712,000 after buying an additional 10,789 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $147.03 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The firm has a fifty day moving average price of $148.51 and a 200-day moving average price of $155.96. The stock has a market cap of $353.99 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Bank of America dropped their target price on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup cut their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.29.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.